Calculated Risk: Comments on Employment Report: First, a milestone for next month: Private payroll employment increased 162 thousand in February and private employment is now just 129 thousand below the previous peak (total employment is still 666 thousand below the peak in January 2008). It seems very likely that private employment will be at a new high in March.
Total non-farm employment will probably be at a new high this summer (all the government layoff have held back total employment).